Balance of Trade deficit widens due to higher oil prices and China's increase in bank reserves

Top Day Rec

01.12.10

Balance of Trade deficit widens due to higher oil prices

and China asks banks to increase reserves against

lending to combat risk. Yesterday took its early cue from

Chinese imports increasing by 5% but we also

mentioned that China was looking to restrict credit

going forward and this should be kept in mind. Copper

is reflecting this in early trade this morning. Bonds are

reflecting a less than robust US economic outlook and

stocks are pricing in this view as well. Very quietly

yesterday, under the proverbial radar, bonds had an

internal trend change.

This Week's Calendar

Date ET Release For ActualBriefing.com Consensus Prior

RevisedFrom

Current views, speculations and suggestions

(good till close of business today). These are technical in nature

only, not fundamental.

Mar ES: pos with support at 1132.50

NQ: neg with res at 1885.00

Mini Dow: pos with support at 1050.0

Gold: potential reversal day

Mar Silver: pos with support at 18.275

Mar Copper: pos with support at 336.00

Mar Yen: possible reversal day

Mar Swiss: pos with support at 97.87

Mar EC: possible reversal day

Mar Canadian: pos with support at 96.10

Mar BP: possible reversal day

Mar Aussie: pos but below daily support of 91.94

Feb Crude: pos with support at 80.82

Mini Nat Gas: neg with res at 5.61

Mar Soybeans: neg with res at 10.26

Mar Wheat: pos with support at 5.59

Mar Ten Year: potential reversal day

Mar 30 Year: pos with support at 115.07

June Eurodollar: pos with support at 99.50

**************

International Markets

Mar Bund: pos with support at 121.56

Mar Dax: potential reversal day

**********

N.B.: if you initiate a trade using ANY of these

numbers use a STOP at least equivalent to 2 ½%.

Repeat: use Stops. Don’t think about using Stops.

Use Stops. Some find it appropriate to look at the

margin requirement and use that as a Stop or if

it’s a steep initial requirement, use half. But

whatever you do, stop thinking about any other

alternative and use Stops.

********************************************

Futures trading entails considerable risk and is not for

everyone. An account can lose more than its initial investment.

Stops are not necessarily filled at the stop level. Past

performance is not a guarantee of future results.

Charles Kespert

***********************

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